Nisa Investment Advisors LLC Cuts Stock Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Nisa Investment Advisors LLC trimmed its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 30.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,545 shares of the company’s stock after selling 4,998 shares during the period. Nisa Investment Advisors LLC’s holdings in Upbound Group were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Upbound Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company’s stock valued at $197,804,000 after buying an additional 113,212 shares during the period. Dimensional Fund Advisors LP boosted its position in Upbound Group by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,328,229 shares of the company’s stock valued at $67,913,000 after buying an additional 92,766 shares during the period. Huber Capital Management LLC boosted its position in Upbound Group by 2.2% during the fourth quarter. Huber Capital Management LLC now owns 856,147 shares of the company’s stock valued at $24,974,000 after buying an additional 18,343 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Upbound Group by 15.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 799,757 shares of the company’s stock valued at $23,329,000 after buying an additional 105,380 shares during the period. Finally, Northern Trust Corp boosted its position in Upbound Group by 22.0% during the fourth quarter. Northern Trust Corp now owns 653,053 shares of the company’s stock valued at $19,050,000 after buying an additional 117,926 shares during the period. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Upbound Group news, Director Jeffrey J. Brown purchased 21,730 shares of the stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $23.75 per share, with a total value of $516,087.50. Following the transaction, the director directly owned 21,730 shares of the company’s stock, valued at approximately $516,087.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders purchased 25,077 shares of company stock worth $592,594. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James Financial restated an “outperform” rating and set a $35.00 price target (down from $40.00) on shares of Upbound Group in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.50.

Upbound Group Trading Down 0.4%

UPBD opened at $24.99 on Thursday. The business has a 50 day simple moving average of $24.89 and a two-hundred day simple moving average of $25.49. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 11.73 and a beta of 1.74. The company has a debt-to-equity ratio of 2.26, a current ratio of 3.12 and a quick ratio of 0.80. Upbound Group, Inc. has a one year low of $19.69 and a one year high of $38.72.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.13 billion. Upbound Group had a return on equity of 36.30% and a net margin of 2.74%. Upbound Group’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 EPS. Analysts predict that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 17th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date of this dividend was Tuesday, June 17th. Upbound Group’s payout ratio is 73.24%.

Upbound Group Profile

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.